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Vancouver, BC, March 12, 2008 - VendTek Systems
Inc. (TSXV: VSI) ("VendTek" or "The Company"),
a leading provider of automated transaction systems
software, is pleased to announce that it has developed
a new application for the electronic delivery of PINs
for prepaid mobile phones via short message service
(SMS). This allows for the distribution of PINs directly
to the mobile phone.
In some countries, point of sale (POS) terminals are
too expensive for merchants to use and are not widely
deployed. However, many merchants already own mobile
phones. With eFresh SMS™, PIN distribution can be completed
using SMS text messaging with a mobile phone. This allows
for the extension of the eFresh™ network into many rural
and developing areas. According to International Telecommunications
Union, developing countries now account for 56% of all
mobile users, and for 79% of usage growth.
eFresh SMS™ is a fully integrated solution using all
of the eFresh™ functionality. It can operate along with
POS, ATM, PC, and Web based distribution points. A merchant
can request a PIN by simply sending a SMS message to
the eFresh™ server. The entire transaction can be completed
in real time instantly.
"We are committed to being at the forefront of
prepaid transaction processing technology. While we
are very encouraged by the market opportunity in North
America, the international opportunities for electronic
prepaid mobile phone distribution are even greater.
eFresh SMS™ processes mobile to mobile transactions.
We believe that this new micro-payment application will
accelerate the adoption of electronic distribution of
PINs particularly in developing countries," said
Doug Buchanan, President and Chief Executive Officer
of VendTek Systems Inc.
For more information please contact Samantha Haynes
at 1-800-806-4958 or 604-805-4653 or via e-mail shaynes@vendteksys.com.
About VendTek
VendTek develops and licenses automated transaction
system software and supporting technologies that improve
the efficiency of product delivery, reduce costs to
clients and offer superior safety measures. VendTek's
customers and its division, Now Prepay Corp. and its
subsidiaries are using e-Fresh™ software to build
electronic, prepaid services networks, which enable
consumers to purchase prepaid services via POS and self-serve
terminals connected to a central e-Fresh™ server.
This system creates significant value through improved
efficiencies compared to the traditional distribution
paradigm. e-Fresh™ reduces shrinkage and inventory
requirements while improving consumer access to prepaid
services by completely eliminating physical cards and
vouchers. For further information please visit the Company's
website www.vendteksys.com.
This release contains forward-looking statements
within the meaning of the "safe harbor'' provisions
of the U.S. Private Securities Litigation Reform Act
of 1995. These statements are based on management's
current expectations and beliefs and are subject to
a number of risks and uncertainties that could cause
actual results to differ materially from those described
in the forward-looking statements. The Company assumes
no obligation to update any forward-looking information
contained in this news release.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of
this release.
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